Sec. 40019. American Infrastructure Opportunity Bonds

207 words·~1 min read·/bill/116/hr/2/rds/section-40019

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Chapter 31 of title 31, United States Code, is amended— by adding at the end the following new subchapter: If the Secretary of the Treasury determines that the real rate is equal to zero percent or less, the Secretary shall— issue Government bonds with a face value of $20,000,000,000; and deposit amounts equivalent to the proceeds from such issuance into the Highway Trust Fund, of which 20 percent shall be deposited into the Mass Transit Account established under section 9503(e) of the Internal Revenue Code of 1986.

For purposes of this section: The term Federal interest rate means the current market yields on outstanding marketable obligations of the United States with remaining periods to maturity of approximately 1 year, as determined by the Secretary of the Treasury. The term inflation rate means the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor with respect to the previous calendar month. The term real rate means— the Federal interest rate, minus the inflation rate. ; and in the analysis for such chapter, by adding at the end the following:

SUBCHAPTER III—American Infrastructure Opportunity Bonds 3131. Issuance of American Infrastructure Opportunity Bonds and use of proceeds. .